FABMisr Secures the Top Spot for Best Banks in Assets-to-Deposits Ratio

First Abu Dhabi Bank - Egypt has topped First Bank list for the best banks in the assets-to-deposits ratio, with a coverage ratio of 148.79% by the end of the first half of 2023.

The bank's asset portfolio increased by approximately 40.18% during the first half of the current year, reaching EGP289.4 bn by the end of June 2023, compared to EGP206.5 bn by the end of 2022, an increase of EGP 83 bn.

Additionally, the total customer deposits portfolio of FABMisr increased by about 39.6%, with an increase of EGP 55.1 bn during the first half of the current year, reaching EGP194.5 bn by the end of June 2023, compared to EGP 139.4 bn by the end of 2022.

The bank's assets-to-deposits ratio is exceptionally high, reflecting its high capacity to meet its obligations towards depositors, with deposits accounting for approximately 67.21% of the bank's total assets by the end of June 2023.

In general, Abu Dhabi First - Egypt has performed well this year, with its net profits jumping by about 317.5% to reach EGP6.60 bn during the first half of 2023, compared to EGP1.58 bn during the same period in 2022.

This increase of EGP 5.01 bn places it at the top of First Bank list for Gulf banks operating in the Egyptian banking sector, showing the fastest growth in net profits during the first 6 months of the current year.

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